Wal-Mart Shakes Up Sam’s Club Leadership

Wal-Mart Stores Inc., the world’s largest retailer, named a new chief of its Sam’s Club unit, which is struggling in the face of tough competition from Costco Wholesale Corp. and BJ’s Wholesale Club Inc.

Wal-Mart promoted its chief information officer, Kevin Turner, 37, to replace Tom Grimm, who is retiring.

Growth at Sam’s Club has lagged behind Wal-Mart’s other units. Earlier this month, the warehouse segment posted operating profit growth of just 3% for the second quarter. By comparison, operating profit at the flagship Wal-Mart Stores segment was up 17%.

Turner joined Wal-Mart in 1986 as an hourly associate and was named CIO in 2000.

Wal-Mart shares fell $1.06 to $53.19 on the NYSE, off a 52-week high of $63.94.